FMA Archives - Page 4 of 6 - The Industry Spread

10 Formal AML/CFT Warnings Issued by FMA

May 20, 2019

The FMA carried out a risk-based assessment of independent audit reports for reporting entities it supervises in February this year, targeting 69 reporting entities. The FMA supervises around 800 reporting entities, of whom roughly two-thirds define themselves as financial advisers.

Morgan DeVere has been Convicted for Abuse of the FSPR

May 12, 2019

Morgan DeVere Corporate Finance Limited (Morgan DeVere) has been convicted at the Wellington District Court on two counts of breaching the Financial Services Providers Act 2008 (FSP Act) for falsely claiming it was registered on the Financial Services Providers Register ( FSPR ). A copy of the judgment can be found here.

Director Sentenced to Community Service for Abuse of FSPR

April 19, 2019

A New Zealand-based director of Morgan DeVere Corporate Finance Limited has been sentenced to 75 hours of community service for breaching the Financial Service Providers (Registration and Dispute Resolution) Act 2008. (FSP Act). The FMA alleges that the company stated it was registered on the Financial Services Providers Register (FSPR) after it had deregistered.

FMA Files Civil Proceedings Over Trading in Oceania Natural

April 19, 2019

The Financial Markets Authority (FMA) has issued civil proceedings in the High Court against four individuals in relation to trading in Oceania Natural Limited. (ONL)The proceedings relate to alleged breaches of market manipulation prohibitions and the disclosure obligations in the Financial Markets Conduct Act 2013. The FMA is seeking financial penalties.

AML/CFT Monitoring Report Highlights Concerns, Sets Out Future Focus

April 4, 2019

The Financial Markets Authority (FMA) has published an Anti-Money Laundering and Countering the financing of terrorism (AML/CFT) monitoring report setting out the areas requiring further attention by the management and boards of the reporting entities it supervises. 

FMA Publishes Guide To Investors Shares

April 1, 2019

The FMA has published a guide for investors shares on the nuts and bolts of choosing, buying, owning and selling.The guide, Share this! deals with the steps involved in investing in shares as well as the potential risks, to help people decide whether shares are the right investment for them.

NZX & FMA Initiate Industry Review: Capital Markets 2029

January 31, 2019

NZX and the Financial Markets Authority (FMA) have initiated an industry-led review of New Zealand’s capital markets. Capital Markets 2029 is designed to deliver a ten-year vision and growth agenda for the sector.